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FG implements ECOWAS Common External Tariff on imports

The Federal
Government has approved the implementation of the ECOWAS Common External Tariff
(CET) 2015-2019 and 2015 Fiscal Policy Measures.

The approval for the implementation
of the new Tariff was conveyed in a statement signed by the Coordinating
Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo Iweala.

In a press statement issued by the
Deputy Controller of Customs, Mr Wale Adeniyi, the implementation of the ECOWAS
CET together with its Supplementary Protection Measures (SPM) and 2015 Fiscal
Policy Measures occurs concurrently and will take effect from April 11, after the expiration of the 30 days notice required under the provisions of the
ECOWAS CET.

With this development, all imports
arriving into the country beginning from April 11, shall be subjected to the
rates contained in the CET 2015- 2019 and 2015 Fiscal Measures without recourse
to the rates applicable before the coming into effect of the ECOWAS CET 2015 –
2019, according to the statement.

It also
includes a National List consisting of items whose Import duty rates have been reviewed to encourage more development in strategic sectors of the economy
and an Import Prohibition List (Trade), applicable only to certain goods originating from non-ECOWAS Countries.

The Comptroller-General of Customs
Dikko Abdullahi, the statement added,
has directed immediate enforcement of the tariff provisions by all Customs
Controllers.

The
statement urged all stakeholders to ensure compliance with the New ECOWAS
Tariff to enhance trade facilitation within and outside the region.